Jimmy Fallon, CBS and Late Show
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There’s a very simple reason why “The Late Show with Stephen Colbert” was canceled by CBS: the program was losing huge amounts of money, Puck reported. Colbert had to walk the plank because “The Late Show” was losing $40 million a year.
A new report from Puck's Matt Belloni is shedding light on the finances that led to CBS' bombshell cancellation of "The Late Show with Stephen Colbert."